Resistant AI, the financial crime prevention specialists powered by AI and machine learning, has announced a partnership with unstructured data processing platform Instabase. The collaboration enables financial services organisations to use Resistant AI’s Document Forensics to validate digital KYC papers supplied via Instabase’s AI Hub platform, which processes massive amounts of unstructured data to automate end-to-end workflows.
Combating online criminals demands increasingly powerful technology as fraudsters employ more complex strategies, and the emergence of artificial intelligence has further added to a criminal’s inventory of tools. Resistant AI discovered that 8% of pay stubs, 10% of bank statements, and 7% of utility bills reveal symptoms of manipulation in a review of over 25 million digital documents over the last six months. This new collaboration between Resistant AI and Instabase, two leading AI SaaS providers, addresses the growing demand for improved safety measures in fraud-prone document processing workflows, such as identifying and preventing new money mule accounts from being opened in relation to peer-to-peer (P2P) fraud, resulting in improved risk-management and customer experience.
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‘We are happy to cooperate with Instabase to offer a solution that enables customers to automate operations while safeguarding against fraud,’ says Martin Rehak, CEO and Founder of Resistant AI. Customers can be assured that they are leveraging best-in-class solutions from two companies dedicated to collaborating and combining their products to combat document fraud from start to finish.’